Parke Bancorp, Inc. (NASDAQ:PKBK) CEO Acquires $10,445.00 in Stock

Key Points

• CEO Vito S. Pantilione of Parke Bancorp acquired 500 shares of the company at an average price of $20.89, totaling $10,445, raising his ownership to 227,760 shares.
• The company recently announced a quarterly dividend of $0.18 per share, reflecting a 3.3% dividend yield and a payout ratio of 28.02%.
• Parke Bancorp's market capitalization stands at $258.57 million, with a most recent PE ratio of 8.49, marking significant growth potential despite a recent rating downgrade from "buy" to "hold" by analysts.

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) CEO Vito S. Pantilione bought 500 shares of Parke Bancorp stock in a transaction on Thursday, July 31st. The shares were purchased at an average cost of $20.89 per share, with a total value of $10,445.00. Following the completion of the purchase, the chief executive officer directly owned 227,760 shares in the company, valued at $4,757,906.40. This trade represents a 0.22% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Parke Bancorp Price Performance

Shares of NASDAQ:PKBK traded up $0.64 during trading on Tuesday, reaching $21.82. The company had a trading volume of 16,129 shares, compared to its average volume of 23,720. The firm's fifty day moving average is $20.55 and its 200 day moving average is $19.63. The firm has a market capitalization of $258.57 million, a PE ratio of 8.49 and a beta of 0.64. Parke Bancorp, Inc. has a twelve month low of $16.94 and a twelve month high of $24.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.23 and a current ratio of 1.23.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The bank reported $0.69 earnings per share for the quarter. Parke Bancorp had a net margin of 22.44% and a return on equity of 10.21%. The company had revenue of $18.69 million during the quarter.

Parke Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $0.72 annualized dividend and a yield of 3.3%. Parke Bancorp's dividend payout ratio is currently 28.02%.

Institutional Trading of Parke Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in Parke Bancorp by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 522,646 shares of the bank's stock valued at $10,720,000 after purchasing an additional 27,354 shares during the last quarter. Ategra Capital Management LLC lifted its position in shares of Parke Bancorp by 52.1% in the 4th quarter. Ategra Capital Management LLC now owns 344,741 shares of the bank's stock valued at $7,071,000 after acquiring an additional 118,069 shares in the last quarter. Militia Capital Partners LP boosted its stake in Parke Bancorp by 1.7% in the 1st quarter. Militia Capital Partners LP now owns 117,961 shares of the bank's stock worth $2,222,000 after purchasing an additional 2,000 shares during the period. Bridgeway Capital Management LLC grew its position in Parke Bancorp by 2.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 109,466 shares of the bank's stock worth $2,245,000 after purchasing an additional 2,333 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Parke Bancorp by 228.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank's stock worth $1,991,000 after purchasing an additional 73,505 shares in the last quarter. 49.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Parke Bancorp from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th.

About Parke Bancorp

Parke Bancorp, Inc operates as the bank holding company for Parke Bank that provides personal and business financial services to individuals and small to mid-sized businesses. The company offers various deposit products, including checking, savings, time, money market, and individual retirement accounts, as well as certificates of deposit.

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